We at OST are committed to providing the latest news and developments to help you as a government contractor to weather the pandemic.
Here is some useful information.
The Senate passed H.R. 748 last night – the third bipartisan COVID-19 relief bill. The House is expected to vote on the legislation on Friday. Below are all of the bill documents in one place:
Final bill text – H.R. 748: Coronavirus aid, Relief and Economic Security (CARES) Act
- Legislation breakdowns from Committees:
Small Business Committee
“The Keeping American Workers Paid and Employed Act would provide $377 billion to help prevent workers from losing their jobs and small businesses from going under due to economic losses caused by the COVID-19 pandemic. The Paycheck Protection Program would provide 8 weeks of cash-flow assistance through 100 percent federally guaranteed loans to small employers who maintain their payroll during this emergency.”
- Small business aid one-pager
- Section-by-section summary
- Committee’s press release
“This comprehensive package brings to bear the full resources of the federal government to protect the health and well-being of all Americans. More than 80% ($274.231 billion) of the total $339.855 billion provided in the coronavirus emergency supplemental appropriations package goes to state and local governments and communities. Highlights include:
- $117 Billion for Hospitals and Veterans Health Care
- $45 Billion for the FEMA Disaster Relief Fund
- $16 Billion for the Strategic National Stockpile
- $4.3 Billion for the Centers for Disease Control
- $11 Billion for Vaccines, Therapeutics, Diagnostics, & Other Medical Need”
Important information from the finance committee:
- Section-by-section summary for unemployment insurance, tax policy
- Section-by-section summary for health policy
- Important federal contracting provision
Additional resources from our team:
- Federal contractor agency guidance documents
- Employer provisions in the second relief bill
Contact us to learn more.